Access Bank Plc has unveiled a new logo and tagline in a move that officially made it Nigeria’s largest retail bank and one of such in Africa.
The new brand was unveiled at the Eko Hotel & Suites on Sunday night, marking the end of the merger process between Access and Diamond Bank after 3 months of legal and regulatory processes.
This followed the final approval by the Central Bank Of Nigeria (CBN) and the Securities and Exchange Commission (SEC) two weeks ago, finalising the merger process between Access Bank and Diamond Bank Plc.
The two banks announced the merger scheme in December 2018, a move that absorbed Diamond Bank Plc’s assets, liabilities and undertakings and transferred to Access Bank.
In the deal, shareholders of Diamond Bank Plc got a cash consideration of N1 per share and two ordinary shares from the merger for every seven ordinary shares of Diamond Bank held effective from March 19, 2019.
The new enlarged banking entity begins operation today, Monday, April 1, 2019.